April 2, 2012
- in Uncategorized by schooloftrade
E-Mini-Russell day trading strategy
The E-Mini-Russell 89range chart has a lot going on, with 2
major bull channels that wont be in play today, but we need to be aware of the support
and resistance they both provide. Looking
at this 89 range chart a little closer we see another more ‘sideways’ or ‘flat’
bull price channel that is the most recent and will be considered very
important levels of support and resistance.
major bull channels that wont be in play today, but we need to be aware of the support
and resistance they both provide. Looking
at this 89 range chart a little closer we see another more ‘sideways’ or ‘flat’
bull price channel that is the most recent and will be considered very
important levels of support and resistance.
We draw the new short term bull price channel and
then we add 2 trend lines from the swing-high and the swing-low within this new
price channel to find the short term price wedge price structure. We want to sell the highs and buy the lows of
this price wedge. If price moves higher
through the price wedge highs we than buy pullbacks until we take profit and
look to SHORT the highs of the bull price channel. If price moves lower we buy the lows of the price
wedge, and then with strong sellers pushing new lower-lows we will sell retracements
down into the 807.0 where we will take profit and then look to buy the lows of
the major bull price channel.
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| E-Mini-Russell day trading strategy |
